A survey on South Africa's public institutions' risk management processes: A view from the chief risk officer

In this paper, we set out to examine the risk management processes in South Africa's public institutions by gauging the Chief Risk Officers (CROs) views. A questionnaire containing questions around enhanced risk management processes was administered through the Office of Accountant General, the Risk Management Support Unit to all CROs in public institutions. One hundred questionnaires were received from respondents. The main finding is that there are some public institutions, notable the National Government Departments as well as municipalities where the Accounting Officer does not include the undertaking in the annual report that the risks are actively managed. In public institutions, Accounting Officers are custodians of risk and therefore, their inability to make an undertaking that risks are actively managed leave unanswered questions such as whether they have uneasiness with disclosing such information to the public or perhaps whether they have total understanding of their responsibilities when it comes to risk. A similar pattern was also observed on the information relating to the disclosure of risks in the annual reports. Further, there are public institutions that do not conduct strategic risk assessments, in this regard and as per National Treasury's definition, an unwanted outcome of strategic nature, actual or potential would materialise without any realisation from those charged with service delivery and other performance objectives.